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This is a great explanation for Customer Insights since it highlights the "mutual benefit" angle of Customer Experience. Customer insights is basically actionable data that helps bridge the gap between your brand promise and the experience your customers take back home, and bridging this gap is the easiest way to make your customers loyalists, and RETAIN them!

CUSTOMER INSIGHTS: THE KEY TO BOOST CUSTOMER RETENTION

Customer Experience has become more than a buzzword, evolving into a rigorous movement and dedicated practice worldwide. So much so that brands are expecting it to evolve and grow further this year. While a lot of Customer Experience trends related posts are predictive, here's a more in-depth take on what exactly is awaiting brands when it comes to CX in 2017!

CUSTOMER EXPERIENCE TRENDS FOR 2017

Valuation, revenue, cost of customer acquisition, inventory, venture debt, advisory shares, line of credit, equity - words you would normally associate with stuffy board rooms and golf courses, not prime time television. However, millions of people like me did not learn these words sitting with our notebooks open in MBA classrooms. We learnt them by sitting in front of the TV with popcorn watching prime time, Mark Burnett approved reality television.

Shark Tank Take Away

Consumers nowadays have a ridiculous number of options on where and how to make their purchases, which has led to them becoming pickier than ever, according to a number of studies. The factors that influence their decisions regarding who to give their business to vary significantly from one consumer to the next, but there is one common denominator among them all and that is that they want to be made to feel special. In fact, a study from Wunderman shows that most consumers want brands to prove they understand and care about them before they even consider making a purchase.

Voice Of Customer Importance